Axa strikes sale agreement with Phoenix Group

Axa has struck an agreement to sell its UK investment, pensions and direct protection businesses to US firm Phoenix Group.

Axa strikes sale agreement with Phoenix Group
Fri, 27 May, 2016 - 10:52

Axa has struck an agreement to sell its UK investment, pensions and direct protection businesses to US firm Phoenix Group.

The £375m deal, which will see Phoenix take control of the Sun Life and Embassy brands, is part of the French insurer's programme to divest from the UK and Europe in favour of higher growth markets.

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